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FOX
Dec 27, 2012 6:00pm PST
taxes. and that could lead to a u.s. economic down turn. and that could derail many of the benefit prop 30 could have meant for the state. >> i don't know if there is a word to describe how mad the public will be. nobody will be happy to see that happen. >> if taxes go up it is not going to be a happy time. i think that is what is going to happen. >> reporter: the lowest income folks will see their pay shrink by 3.5%. average earners 4%. top earners 6%. that says nothing about other unknowns. >> we will be very angry. it will hit the people -- if you are on top you are on top but the middle and the working class are going to be effected. >> very angry. this life, i mean, we have to succeed. >> reporter: add to that 2,100,000 more americans on unemployment benefits who will be cut off january 1. >> our political parties hurt the american people. >> reporter: no one, no one will be exempt. consumer editor tom vacar, ktvu channel 2 news. >>> americans bought new homes last month at the fastest pace in 2-1/2 years. sales of new homes road 4.5% to $377,000. that is the fastest pace sinc
FOX
Dec 28, 2012 6:00pm PST
at least propose a basic package. >> one that protects the middle class from an income tax hike, extends the vital lifeline of unemployment insurance to 2 million americans looking for a job. and lays the ground work for future corporation by more economic growth and deficit reduction. >>> with no agreement on the fiscal cliff extended unemployment benefits expire tomorrow for 24,000 unemployed californians. one woman says she's been out of work for two years. she said if it weren't for the long term unemployment benefits she doesn't know how she would get by. >> not being able to put food on table. not being able to pay my bills. >> those individuals and families are on their own to figure out how they're going to have an income until they have go on and have a job again. >> reporter: 1.2 million americans could lose their extended unemployment benefits nationwide. >>> cloudy and cold, all day across the entire bay area. now we're adding some rain showers to the mix. here's a look on live storm tracker 2 radar. the greens indicating light rains on the increase. even if you're c
FOX
Dec 31, 2012 6:00pm PST
deal would raise taxes on families making more than $450,000 and extend unemployment benefits. >> we will work on finding smarter ways to cut spending. but let's not let that hold up perecing americans -- protecting americas. >> reporter: here is where they have been struggling, automatic spending cuts to the trillion dollars mark. it would effect the defense department and social programs. >> wee using -- we are using an ax instead of a scalp. >> reporter: even if there is a vote tonight in the senate the house still has toapprove something and they have -- to approve something and they have already gone home. they will be back on new year's day. ktvu channel 2 news. >> after years of deficits in california there is finally light at the end of the tunnel but that would change if the nation goes over the fiscal cliff. ktvu's ken pritchett is live with how failure in washington will hurt california. . >> reporter: reaching a deal tonight would be important. people next month make less money so they spend less and within 5 weeks california will see sales tax revenue drop. if there is n
FOX
Dec 26, 2012 6:00pm PST
john boehner said it's up to the senate to pass legislation to avoid the steep cuts and tax hikes that are set to take effect january 2nd. some observers say it looks likely the u.s. will go over that cliff allowing lawmakers then to vote to lower taxes after they first go up. >> to make them look better? to appease voters? is that the reason? great. . >> meanwhile, another showdown is looming. the government will hit its federal debt limit on new year's eve and could default unless congress passes legislation to permit more borrowing. >>> the passage of proposition 30 gave governor brown the extra money he wanted for california schools. now he's working on a proposal to differencevy up the funds. eats work -- divvy up the funds. >> he wants to return more accountability, authority and decision-making down to local school districts because teachers, administrators and parents have a better sense of what their local priority are than people here in sacramento do. >> the governor's proposal will be included in his new budget set to be released next month. >>> california is losing ou
Search Results 0 to 3 of about 4